Hi
I recently had some repairs done at a investment property. It included
some replacements of components of the system such as some new
Glass break sensors and smoke alarms.There was also a tamper switch replaced inside an existing alarm box that otherwise worked and some reed switches/wiring replaced in doors that were not working due to suspected water damage from a storm.
These Glases break sensors and smoke alarms simply wore out or broke. I realise repairs (best option tax wise) involve replacement of a worn out or broken part and that the tamper switch & reed switch's/wiring could probably fall under repair?
However from what I have read the other items (other than the tamper switch and reed switches) whilst part of a overall security system are considered by the ATO to be a unit (not a part) as each item performs its own function.
Would I be right then in saying they are Depreciating Assets to which I must assign a separate useful life?
Looking here I find
http://www.ato.gov.au/content/downloads/IND00270214N17290611.pdf
Page 38
detectors (including glass, passive infrared, and vibration) @ 5years
Page 35
Fire control assets: / Smoke @ 6 years
Please advise
I recently had some repairs done at a investment property. It included
some replacements of components of the system such as some new
Glass break sensors and smoke alarms.There was also a tamper switch replaced inside an existing alarm box that otherwise worked and some reed switches/wiring replaced in doors that were not working due to suspected water damage from a storm.
These Glases break sensors and smoke alarms simply wore out or broke. I realise repairs (best option tax wise) involve replacement of a worn out or broken part and that the tamper switch & reed switch's/wiring could probably fall under repair?
However from what I have read the other items (other than the tamper switch and reed switches) whilst part of a overall security system are considered by the ATO to be a unit (not a part) as each item performs its own function.
Would I be right then in saying they are Depreciating Assets to which I must assign a separate useful life?
Looking here I find
http://www.ato.gov.au/content/downloads/IND00270214N17290611.pdf
Page 38
detectors (including glass, passive infrared, and vibration) @ 5years
Page 35
Fire control assets: / Smoke @ 6 years
Please advise